However, income tax expenses increased significantly to $1.7 million in FY2022, mainly due to the absence of unutilised losses and enhanced building allowances which had been fully utilised in prior financial years.
Despite doubling its revenue and improving its gross profit, Asia Enterprises Holding (SGX:A55
) has reported earnings of $3.7 million in FY2022, unchanged from the earnings it achieved in FY2021.
The company reports profit before tax of $5.5 million in FY2022, 37% higher from the previous year. This was achieved on the back of a 108% jump in revenue to $73.5 million, driven by relatively higher average selling prices and an increase in sales volume.
